Canada-based cryptocurrency investment firm Sol Strategies sold Bitcoin (BTC) and bought Solana (SOL) instead.
The company announced that it purchased 12,389 SOL with the proceeds from the sale of its Bitcoin assets.
With the latest acquisition, the company now has 130,125.2186 SOL on hand, worth $32,202,081 CAD ($23.51 million USD).
At the same time, Sol Strategies sold 24.5026 Bitcoins at an average price of $95,878.28 CAD, generating gross proceeds of $2,349,267 CAD. The company still has an additional 23,168 Bitcoins worth approximately $2,250,466 CAD.
Leah Wald, CEO of Sol Strategies, said:
“Reallocating a portion of our Bitcoin assets to Solana reflects Sol Strategies’ strategic alignment with Solana’s evolving value proposition in the decentralized finance space.
“As Bitcoin continues to underpin the digital asset landscape, we recognize that Solana’s growth trajectory and innovative capabilities are uniquely positioned to drive the next phase of blockchain infrastructure.”
*This is not investment advice.